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Friday, January 10, 2014

DSE key index crosses 4,400-point mark again

Stocks inched up Thursday for the third running session with key index of the prime bourse crossing 4,400-point mark once again as investors seem to be highly optimistic about market direction ahead.

The market started in a positive note in the morning and the upward trend continued to the market closure amid modest see-saw. At the end of the session, the prime index of the Dhaka Stock Exchange (DSE) - DSEX- moved up by 16.56 points or 0.38 per cent to close at 4,407.83 points, peaking 7-week high level.

The DS30 index, including blue chips also advanced 12.14 points or 0.79 per cent to close the session at 1,555.61 points.

Turnover value on the DSE stood at Tk 5.18 billion, registering 4.07 per cent decline over the previous session's 3-week high value of Tk 5.40 billion.

 "Market remained in bull grip for the third consecutive trading session of this week, breaking through the near term resistance level of 4,440 points," said the LankaBangla Securities.

"Currently, declining inert-bank rate, increasing investment in the government savings instruments are stemming the private sector investment and indicating lower demand for credit," said the stock broker.

The central bank's consideration of expansionary and balanced Monetary Policy Statement (MPS) for second half of fiscal year 201-3-14 is the most important trigger point for capital market, the stock broker said.

"Till the last day of this week, market remained upbeat as possible increase in private sector credit growth will facilitate the corporate profitability of the listed companies," the stock broker added.

"While the 10th national parliament took oath, initially vibrant market sentiment sedated to a flat mode. Investors stood 'watchful' pondering about future movements as a new government is setting in," said IDLC Investments.

Turnover consequently, remained in previous day's level at around Tk 5.0 billion. Nevertheless, investors remained buoyant over fuel & power sector for the third straight days and pushed it to be the top gaining sector, said the merchant bank.

Gainers beat losers 167 to 85, with 38 issues closed unchanged on the DSE floor.

All the major sectors ended in green except banks and telecommunications which lost 0.02 per cent and 0.79 per cent respectively.

The other large capitalized sectors including pharmaceuticals, fuel & power and NBFIs closed positive with 1.19 per cent, 1.18 per cent and 0.01 per cent gain.

Activities decreased in the major bourse (DSE) where volume and trade were down by 6.33 per cent and 4.45 per cent respectively. A total of 0.116 million trades were executed with 110.32 million shares and mutual fund units were trading volume.

The market capitalization of the DSE stood at Tk 2,717.36 billion against Tk 2,712.10 billion in the previous session.

Golden Son dominated the top turnover chart with shares worth Tk 206.96 million changing hands followed by Meghna Petroleum, LankaBangla Finance, Summit Purbanchol Power Company and BD Building.

Three more issues from the engineering sector - BD Building, Bengal Windsor and Olympic Industries   - featured in the top ten turnovers chart. The Engineering sector accounted for the lion's share -19.1 per cent of total market turnover.

Paramount Textile was the day's highest gainer, posting a rise of 6.37 per cent rise while Modern Dyeing was the day's worst losers, slumping by 7.60 per cent.

The Chittagong Stock Exchange (CSE) also closed marginally higher, with its Selective Categories Index - CSCX gained 47.50 points to close at 8,663.44 points.

Gainers beat losers 106 to 94, with 25 issues remaining unchanged at the port city bourse that traded 13.25 million shares and mutual fund units, turnover value of Tk 530.14 million.


Ripon Abu Hasnat

Author & Editor

Has laoreet percipitur ad. Vide interesset in mei, no his legimus verterem. Et nostrum imperdiet nostrum imperdiet appellantur appellantur usu, mnesarchum referrentur id vim.



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